So close to completion...this is nerve-racking!

TF03

Hi all
So we have just received the remortgage BTL on our current property in anticipation of our completion next week on our new purchase, with the mortgage for that set to be drawn down next week. Set for the 26th. 
Originally we were going to exchange on Monday 23rd and complete on 26th but now with everything that is going on with CV19 our solicitor has advised that if for whatever reason the completion then doesn't take place, we will be in breach of contract and all the implications that can bring and should now go for simultaneous exchange and complete on the 26th. Or if they don't agree to that, at least we have contract riders put in that state in the event of a delay due to CV19 we don't suffer the penalties. On top of this, technically we would have to move out of our current place as owners can't live in their own BTL properties! 

And there I was just last week confident that everything should now proceed smoothly! It's so nerve-racking! I'm sure it'll all be fine. The vendor I've met a couple of times are really nice, and they have been messed around by previous buyers and are keen to get this over the line. Neither of us are in a chain either. I'm sure they will agree to either one of those options....but still......I can't wait for next week to be over....

aestivus

Good luck! 26th is also d-day for me, and I'm on tenterhooks just waiting for it to be done, and to not have to worry about what is going to happen next. Bring on the end of next week! 

TF03

aestivus said:

Good luck! 26th is also d-day for me, and I'm on tenterhooks just waiting for it to be done, and to not have to worry about what is going to happen next. Bring on the end of next week! 

I have a feeling it's going to be a long week. Good luck as well! 
I was feeling fine about it until my solicitor (and to be fair, doing the job I'm paying him to do) started talking about these precautions yesterday. His main worry is that if for some reason, money transfers can't happen. 
I think this is a very unlikely scenario but he is trying to look after us as clients. 

TF03

Just heard from my solicitor. Vendor has agreed to simultaneous exchange and complete! So that's a huge worry off the shoulders. 
Still...now just got to sit tight and hope nothing develops further. 

Toodlepips

We were due to complete next Friday.. and after having a complete breakdown of 'what ifs' we have made the decision to bring it forwards to Tuesday. Its the unknown that is worrying me the most! 

Doozergirl

In the same position and I absolutely do not care.  My priority is exchange, exchange, exchange and deal with the rest later. 

Everything crossed we exchange tomorrow for completion next Friday which allows us to move into a rented house over the next week.  

I'm told the chain is solid and that the bottom is pushing us at the top.  We only found out two days ago of another link at the bottom.  I actually think they've been waiting for ages.  When we accepted the offer on the 27th Jan, I laughed at the prospect of actually moving on the suggested date of 23rd March with four houses in the chain.   It turns out there are five. 😵

If and when we get to exchange, I am going to break down and sob.  I can feel it rising now. It's 8 years later than it should be and I just want to move now and start the chapter.  I cannot bear the idea of going back to market.  We've had so much bad luck.  

olgadapolga

Doozergirl said:

In the same position and I absolutely do not care.  My priority is exchange, exchange, exchange and deal with the rest later. 

Everything crossed we exchange tomorrow for completion next Friday which allows us to move into a rented house over the next week.  

I'm told the chain is solid and that the bottom is pushing us at the top.  We only found out two days ago of another link at the bottom.  I actually think they've been waiting for ages.  When we accepted the offer on the 27th Jan, I laughed at the prospect of actually moving on the suggested date of 23rd March with four houses in the chain.   It turns out there are five. 😵

If and when we get to exchange, I am going to break down and sob.  I can feel it rising now. It's 8 years later than it should be and I just want to move now and start the chapter.  I cannot bear the idea of going back to market.  We've had so much bad luck.  

Sending you virtual hugs and good luck for tomorrow and next week.

staffie1

Doozergirl said:

In the same position and I absolutely do not care.  My priority is exchange, exchange, exchange and deal with the rest later. 

Everything crossed we exchange tomorrow for completion next Friday which allows us to move into a rented house over the next week.  

I'm told the chain is solid and that the bottom is pushing us at the top.  We only found out two days ago of another link at the bottom.  I actually think they've been waiting for ages.  When we accepted the offer on the 27th Jan, I laughed at the prospect of actually moving on the suggested date of 23rd March with four houses in the chain.   It turns out there are five. 😵

If and when we get to exchange, I am going to break down and sob.  I can feel it rising now. It's 8 years later than it should be and I just want to move now and start the chapter.  I cannot bear the idea of going back to market.  We've had so much bad luck.  

Are you renting temporarily until you find a place to buy? Sound similar situation to me.

Doozergirl

staffie1 said:

Doozergirl said:

In the same position and I absolutely do not care.  My priority is exchange, exchange, exchange and deal with the rest later. 

Everything crossed we exchange tomorrow for completion next Friday which allows us to move into a rented house over the next week.  

I'm told the chain is solid and that the bottom is pushing us at the top.  We only found out two days ago of another link at the bottom.  I actually think they've been waiting for ages.  When we accepted the offer on the 27th Jan, I laughed at the prospect of actually moving on the suggested date of 23rd March with four houses in the chain.   It turns out there are five. 😵

If and when we get to exchange, I am going to break down and sob.  I can feel it rising now. It's 8 years later than it should be and I just want to move now and start the chapter.  I cannot bear the idea of going back to market.  We've had so much bad luck.  

Are you renting temporarily until you find a place to buy? Sound similar situation to me.

We're in the middle of building our own house.  Well, we were until we spent all our money and only then considered selling our current house.  

This feels like the final major hurdle to jump.  Then I can deal with anything.  

Doozergirl

olgadapolga said:

Doozergirl said:

In the same position and I absolutely do not care.  My priority is exchange, exchange, exchange and deal with the rest later. 

Everything crossed we exchange tomorrow for completion next Friday which allows us to move into a rented house over the next week.  

I'm told the chain is solid and that the bottom is pushing us at the top.  We only found out two days ago of another link at the bottom.  I actually think they've been waiting for ages.  When we accepted the offer on the 27th Jan, I laughed at the prospect of actually moving on the suggested date of 23rd March with four houses in the chain.   It turns out there are five. 😵

If and when we get to exchange, I am going to break down and sob.  I can feel it rising now. It's 8 years later than it should be and I just want to move now and start the chapter.  I cannot bear the idea of going back to market.  We've had so much bad luck.  

Sending you virtual hugs and good luck for tomorrow and next week.

Thank you.  I will take that and hold onto it.  I've been trying to keep quiet, in general, about it for fear of tempting fate.  Not like me.  

Dancer11

Toodlepips said:

We were due to complete next Friday.. and after having a complete breakdown of 'what ifs' we have made the decision to bring it forwards to Tuesday. Its the unknown that is worrying me the most! 

Snap! I’ve been worrying too and then I get a call from the developer today asking if I want to bring completion forward and if so what day! 

We were due to complete on 27th also, but my solicitor is calling the lender in the morning to see if can release funds for Monday or Tuesday 🤞